The KPMG Global Banking Fraud Survey was conducted to obtain a global perspective of how banks are tackling internal and external fraud threats. Respondents were asked about trends in fraud typologies, challenges they are facing in mitigating threats, security in a digital age and how banks are structuring their teams and deploying resources to optimise their fraud risk management efforts.
In the context of a changing global banking landscape, where branch networks are shrinking, volumes of digital payments are increasing and payments are being processed in seconds, fraudsters are creatively finding new ways to steal from banks and their customers.
"Banks need to be agile to respond to threats and embrace new approaches and technologies to predict and prevent fraud."
– Natalie Faulkner, Partner, Risk Consulting
Fraudsters are becoming more sophisticated and can quickly change and adapt their approaches. Banks, in Australia and globally, need to be agile to respond to new threats and embrace new approaches and technologies to predict and prevent fraud.